Canon fined $32 million for violating EU merger rules in Toshiba deal
Posted On: Jun. 28, 2019 5:43 AM CST
The European Union's competition regulator fined Japanese camera maker Canon Inc. nearly $32 million for acquiring Japan-based conglomerate Toshiba Corp.’s medical unit in Sept. 2016 before securing antitrust clearance, Reuters reported. The European Commission said that Canon breached EU merger rules by using an interim buyer to purchase the company prior to obtaining the relevant approvals.